Crypto market’s weekly winners and losers – PEPE, WIF, XMR, FET

Pepe, Dogwifhat, and Shiba Inu were the week’s biggest winners.
Monero, Kaspa, and Artificial Superintelligence Computer led the losers chart.

As a seasoned crypto investor with over five years of experience in this rollercoaster market, I can confidently say that the recent performance of the top cryptocurrencies has been nothing short of intriguing. This week’s biggest winners, Pepe, Dogwifhat, and Shiba Inu, have made me wonder if memecoins are the new darlings of this space!

This week, meme-based cryptocurrencies have made up a large portion of the top performers, as six out of the top ten coins with the highest gains are classified as memecoins.

The analysis chart of the leading 100 cryptocurrencies drew attention to Kaspa (KAS), showing that it continued its downward trend from last week.

Biggest winners

Pepe [PEPE]

Initially, PEPE (PEPE) experienced a 4% drop at the start of the week, suggesting a possible downward trend. Yet, it swiftly changed direction and climbed by 5% the next day.

The highest jumps took place on September 26th and 27th, with daily growth exceeding 12%. To start the week, Pepe was trading at approximately $0.000008, but it ended near $0.00001 – a rise of around 6% by Friday.

According to data from CoinMarketCap, PEPE emerged as the leading cryptocurrency of the past week, boasting a substantial 36% increase in value. The trading activity for PEPE peaked at more than 35 trillion tokens within that week.

Currently, its estimated worth is roughly $1.2 billion, but it’s experienced a 6% decrease since then. At the moment, Pepe’s market capitalization hovers around $4.75 billion.

Dogwifhat [WIF]

On this week’s market, Dogwhatever [SYMBOL] managed to secure the second-best performance among all the assets. It started the week on a low note, trading at approximately $1.69, but it gradually picked up momentum and ended up at $2.37. This impressive surge translates to a 34% growth as per CoinMarketCap’s data.

Although it briefly dipped to $2.31 at the moment, the trading activity for Dogwifhat has reduced by around 20% within the last 24 hours, reaching about $386.4 million. At present, its market value is approximately $2.3 billion.

Shiba Inu [SHIB]

As a researcher, I’ve noticed an intriguing trend with Shiba Inu [SHIB]. This meme coin managed to secure a spot in the top three weekly gainers among its peers, marking a 33% increase. Despite experiencing drops on nearly half of the trading days last week, substantial spikes of 22% and 8% on September 26th and 27th respectively, significantly boosted its overall performance.

SHIB opened the week at around $0.000014 and closed near $0.000019.

Lately, the price trend has surpassed not just the 50-day average, but also the 200-day average. This is a positive sign, often referred to as “bullish,” meaning that Shiba Inu (SHIB) seems to be experiencing a strong push forward following its lengthy period of holding below these averages.

The MACD graph indicates a bullish signal as the MACD line (depicted in blue) crosses above the signal line (orange). Moreover, the histogram now resides in the positive zone, reinforcing a strengthening bullish trend. In simpler terms, this pattern suggests that buyers are gaining power and could potentially lead to additional gains in the immediate future if the momentum persists.

The trading volume rose to over 5 trillion SHIB tokens during the week. However, the volume has since dropped by 40% to about $778 million. Shiba Inu’s market capitalization currently stands at $11.5 billion, with a 3% decline.

Biggest winners of the top 500

Moo Deng saw an impressive surge of 336%, currently valued at about $0.22 within the market. Karrat followed suit with an over 115% jump, reaching $0.63. In third place, SPX6900 experienced a rise of 114%, trading near $0.10.

Biggest losers

Monero [XMR]

Last week was challenging for Monero (XMR), as it failed to bounce back. The cryptocurrency started the week at $176.96 but continued to slide downwards, finally ending the week at $158.63. This represented a 11% decrease, making it the largest loser, according to CoinMarketCap’s rankings.

On the previous day, the trading volume of Monero reached more than 11,000 units, amounting to approximately 38.5 million dollars. This represents an 8% drop compared to the previous figure. Currently, Monero’s market capitalization stands above 2.8 billion dollars, showing a minor decrease.

Kaspa [KAS]

As a researcher examining the cryptocurrency market this past week, I noticed that Kaspa [KAS] experienced a comparatively softer downturn compared to other digital assets, concluding with a minimal decrease of nearly 2%. Initially starting the week at $0.164, it dipped by 3%, but managed to recover slightly and finish the week at $0.166.

I’ve noticed a notable dip of about 50% in the trading volume of Kaspa, bringing it down to roughly $37 million. Despite this decrease, its market capitalization remains substantial at around $4 billion, with only a 2% reduction.

Artificial Superintelligence Alliance [FET]

Artificial Superintelligence Alliance (FET) posted a minor decline of less than 1%, marking it the third-largest loser of the week. The coin opened at $1.61 and ended the week at $1.60, with fluctuating trends throughout.

As a crypto investor, I’ve noticed a significant decrease in trading volume by approximately 30%, which now hovers around the $169 million mark. Simultaneously, the market capitalization has seen a minor dip of 2%, putting it close to the $4 billion threshold.

Biggest losers of the top 500

In the top 500, Hamster Kombat (HMSTR) suffered the steepest loss with a plunge of over 37%, currently valued around $0.006. Not far behind was Catizen (CATI), which dropped by 29% and is now priced at about $0.60. The Covalent X Token (CXT) experienced a decrease of 27%, now trading at around $0.10.

Conclusion

Let’s take a look at this week’s roundup of top performers and underperformers as a reminder that the market is unpredictable, with values frequently changing swiftly.

Thus, doing your own research (DYOR) before making investment decisions is best.

2024-09-29 22:16